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The Latest Breaking News from Tax Cuts

Top Tax Stories of 2024 and Key Changes to Watch for 2025

The Kiplinger tax team is looking back at popular tax stories and looking ahead to potential tax changes in the new year.

Kiplinger

An analyst looks ahead to how the US economy might fare under Trump

President-elect Donald Trump won a return to the White House in part by promising big changes in economic policy — more tax cuts, huge tariffs on imports, mass deportations of immigrants working in the United States illegally

The Independent UK

President Biden Signs Compromise Funding Bill To Avoid Government Shutdown

President Biden signs a stopgap funding bill, prioritizing essential funding and stability in government operations. Avoids expedited tax cuts for billiona...

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Trump’s 2017 tax cuts expire soon − study shows they made income inequality worse and especially hurt Black Americans

The Tax Cuts and Jobs Act, a set of tax cuts Donald Trump signed into law during his first term as president, will expire on Dec. 31, 2024. As Trump and Republicans prepare to negotiate new tax cuts in 2025, it’s worth gleaning lessons from the president-elect’s first set of…

The Conversation

Keeping These Tax Cuts Is a Bad, Expensive Idea

Everyone loves lower taxes, but cutting them without reducing spending is bad news for the national debt.

Reason

End of Trump tax cuts would see 62% pay more—how Congress may respond

From lower federal rates to the cap on state and local property tax deductions, there is much at stake.

Fortune

A Taxpocalypse of Rising Rates Is Coming For Americans if Congress Doesn't Act

Here's how expiring tax cuts could affect you.

Reason

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Trump and his GOP friends focus on tax breaks and deportations in his first 100 days

In preparation for Trump’s return, Republicans in Congress have been meeting privately for months and with the president-elect to go over proposals to extend and enhance tax breaks

The Independent UK

GOP Plans Ambitious 100-Day Agenda With Tax Cuts

Republicans plan to renew trillion in expiring tax cuts, focusing on benefits for higher-income households and proposing spending cuts on programs like ...

Top News

How Have Markets Reacted To Past US Tariff Hikes? Insights As Trump's Trade Threats Spurs Global Jitters

History shows that higher tariffs have been painful for the stock markets to digest, but President-elect Donald Trump's stand on increasing the tariffs seems undeterred, while some analysts call it a negotiating tool, others think that combining it with tax cuts could be good for the economy.

Benzinga

Trump And Musk Take Surprise Turn In Mission To Slash Government Spending

The switch to a more austere approach is contrary to Trump's first term when his tax cuts inflated the budget

International Business Times

Could Millions of Taxpayers Be Facing the AMT (Alternative Minimum Tax) in 2025?

Millions of taxpayers could owe the AMT if Congress allows the tax breaks de-fanged in the 2017 Tax Cuts and Jobs Act to expire.

Kiplinger

EXCLUSIVE: Small Caps Hit Records As Expert Says Russell 2000 'Still Very Discounted' Compared To S&P 500

Small cap stocks poised for growth in 2025, driven by recovering earnings, tax cuts, and valuations, according to investment analyst Brian Manby. Regional banks also expected to benefit. Small caps remain undervalued compared to large caps.

Benzinga

Trump's First Year and Your Retirement: 8 Changes to Your 401(k) and Nest Egg

From investment returns to Social Security, Trump's first year has changed your retirement. Here's what to expect in 2026.

Kiplinger

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Scott Bessent: Trump's Treasury Pick With Diverse Background

Scott Bessent, Trump's treasury secretary pick, advocates for deficit reduction, tax cuts, and tariffs as sanctions.

Top News

Louisiana Legislature Passes Tax Cuts And Sales Tax Increase

Louisiana legislature approved tax cuts to attract businesses, sparking debates on economic impact.

International Business Times

Trump Names Hedge Fund Manager Scott Bessent As Treasury Chief

US President-elect Donald Trump on Friday named billionaire Scott Bessent as his Treasury secretary, choosing the hedge fund manager to help execute an agenda promising tax cuts and tariffs.

The Independent UK

Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it

Louisiana’s GOP-dominated legislature passed tax cuts on personal and corporate income on Friday in exchange for a statewide sales tax increase, a mixed bag of success for Gov. Jeff Landry, whose original tax revision plans faced resistance from lawmakers and lobbyists amid hard fiscal realities

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Incoming Treasury Secretary Faces Complex Economic Challenges

The incoming Treasury secretary faces critical tasks like managing debt ceiling, tax cuts, and Trump's economic plans.

Latin Times

Markets Rally After US Bounce As Nvidia Comes Into Focus

Equities have seen big swings since Trump's election at the start of the month, with optimism over pledged tax cuts and deregulation offset by worries they could also reignite inflation, along with threatened import tariffs.

The National (Scotland)

Tories demand almost £1 billion in tax cuts from SNP's Scottish Budget

THE Conservatives have proposed almost £1 billion worth of tax cuts for the upcoming Scottish Budget ...

Top News

Senate Minority Whip John Thune Outlines Republican Agenda Priorities

Senate Minority Whip John Thune to prioritize Trump's immigration agenda, revive tax cuts, enhance Senate transparency, and confirm nominees.

The Guardian - US

How a Republican trifecta makes way for Trump’s rightwing agenda

GOP majority in House and Senate could give the president-elect ability to extend tax cuts and roll back Biden-era laws

The Guardian - UK

Are you worried about inflation? Then fear Trump, not Rachel Reeves

The chancellor’s budget may have a small effect on UK interest rates. But US tax cuts and tariffs could have international repercussions

The Conversation

Trump’s plans to extend tax cuts and slash red tape will likely spur economic growth − but there’s a cost

The economy was one of their top issues as voters went to the polls this year. So what does Donald Trump’s return to the White House – as well as Republican gains in Congress – mean for the U.S. economy?

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